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Developers can realize significant energy savings, increased rents, reduced liability and a lower cost of occupancy for their tenants by incorporating environmentally friendly, or "green," elements in the design of their buildings, according to Lauren Yarmouth, principal, YRG Sustainability Consultants.

Speaking to a group of top real estate and technology professionals at the Real Estate Technology Forum held at the offices of Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, PC, Ms. Yarmouth pointed out a variety of ways in which green design can increase a property's value. She also noted that there are different levels, some requiring relatively little burden, at which buildings could be certified by the U.S. Green Building Council as being LEED (Leadership in Energy and Environment Design) compliant.

According to Ms. Yarmouth, such features as giving individuals control over their office temperature can increase productivity. And research has shown that schools that utilize natural light most effectively can increase students' test scores.

She also cited an example of a "green" residential building that was renting apartments at a premium of 10% over comparable competitors. "One of the things that is clear is that the cost of including "green" design elements is reduced when they are incorporated early in the architectural planning--especially given that basic LEED certification can be achieved through upgrades that are fairly modest."

Jonathan C. Rudes, co-chair of the Real Estate Technology Forum and president of Delphi Real Estate Advisors, said: "There is tremendous interest in green technologies in all segments of the real estate industry--particularly around whether the benefits that can be derived truly justify the cost of implementing them. We always knew that implementing green technologies paid for themselves in the long run. What surprised me is that in some cases the cost of a installing a green element can cost the same if not less than a non-green element and you can realize immediate operational cost savings as well as tax incentives.

Jeff Moerdler, a partner at Mintz, Levin who hosted the event, added: "Development trends are driven by the demands of the marketplace. Much of the information Ms. Yarmouth shared indicates that environmentally sensitive developments can effectively market themselves and generate greater returns."

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